Salpa Bikas Bank NPL Drops Sharply; Financial Performance Shows Signs of Improvement.
Salpa Bikas Bank (SABBL) has reported a reduction in its net loss for the third quarter of the current fiscal year. The bank’s net loss narrowed to Rs. 31.89 lakhs, down from Rs. 35.84 lakhs last year, supported by a 6.77% increase in net interest income and a significant drop in Non-Performing Loans (NPL).
Salpa Bikas Bank Limited (SABBL) has released its unverified financial report for the first nine months of the fiscal year, highlighting a gradual recovery in its financial health. The bank's net loss improved to Rs. 31.89 lakhs, compared to a loss of Rs. 35.84 lakhs in the corresponding period of the previous year. This positive shift is largely attributed to a steady rise in net interest income and overall operating income, which grew by 7.70%. A key highlight of the report is the bank's successful management of bad loans; the Non-Performing Loan (NPL) ratio saw a major decline from 6.92% to 3.35%. This improvement led to a reduction in impairment charges, which fell to Rs. 97.98 lakhs from Rs. 1.66 crores. Despite these gains, the bank's distributable profit remains at a negative Rs. 1.65 crores, and its Earnings Per Share (EPS) stands at a negative Rs. 0.81. Currently, the bank holds a paid-up capital of Rs. 52.23 crores with total deposits reaching Rs. 1.49 billion.